Central Banking

UAE delays cheque clearing system for tests

The Central Bank of the United Arab Emirates has said at least 90 per cent of UAE banks are ready to implement the new system of cheque clearing that is expected to go live early next year.

The system had been delayed to undergo more rigorous trial runs, officials told Gulf News.

"Most banks are ready with their systems but a lot of tests are being conducted to ensure it is successful," a central bank official told Gulf News.

The new system, the Image Cheque Clearing System (ICCS) was scheduled to

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account